Doha - New York, September 22 (QNA) - Lesha Bank LLC Public and Global Infrastructure Partners (GIP), a part of BlackRock, both active institutional investors in global infrastructure, have signed a memorandum of understanding (MoU) to strengthen their strategic partnership, with an ambition for Lesha Bank to invest more than USD 1 billion alongside GIP.

The MoU underscores Lesha Bank's and GIP's shared commitment to expanding their local, regional and global infrastructure investment portfolios, with a particular focus on supporting the GCC's continued infrastructure development and capturing opportunities arising from the region’s long-term economic transformation.

The MoU was signed by Group CEO of Lesha Bank Mohammed Ismail Al Emadi and Chairman and CEO of GIP Adebayo Ogunlesi at the Qatar Economic Forum (QEF) special edition held in New York alongside the United Nations General Assembly, where Lesha Bank is a participating sponsor of the QEF.

HE Chairman of the Board of Directors of Lesha Bank Sheikh Faisal bin Thani Al-Thani said: "This collaboration with GIP marks an important step in our strategy, as infrastructure continues to emerge as a defining pillar of global investment. By combining our regional insight with GIP's international infrastructure expertise, we are well positioned to unlock long-term value for our investors while strengthening the foundations of sustainable, cross-border growth for both institutions."

For his part, Group CEO of Lesha Bank Mohammed Ismail Al Emadi said: "We have invested together in a number of successful assets, including a European airport and midstream infrastructure alongside a global energy major. We look forward to further deepening our partnership as we continue to scale our Global Infrastructure Investments asset class, a key strategic focus for us."

In turn, Chairman and CEO of GIP Adebayo Ogunlesi said: "We are pleased to deepen our partnership with Lesha Bank, with whom we share a strong conviction in the long-term outlook for infrastructure investment. We look forward to building upon our successful relationship to pursue compelling investment opportunities together."

Both parties have an established track record of jointly investing in infrastructure assets globally and intend to leverage their relationship to pursue further opportunities to invest together in real assets across global markets. (QNA)